Free Guide from Karen Mofford, REALTOR®

The First-Time Buyer Checklist

Your Week-by-Week Roadmap from "Thinking About It" to Keys in Hand — Printable & Practical

Phase 1: Getting Ready

Weeks 1–4

Decide you're serious about buying (congratulations — you're already here)
Check your credit score — you'll need 630+ for most programs, 680+ for best rates
Open a First Home Savings Account (FHSA) if you haven't already
Review your RRSP for Home Buyers' Plan (HBP) eligibility — up to $60,000 tax-free
Start saving for closing costs (budget 1.5–3% of purchase price)
Research first-time buyer programs (see my NS Buyer Programs cheat sheet)
Connect with me to discuss your goals, timeline, and budget

Karen's Tip: Don't wait until you're "ready." Most first-time buyers start the conversation 3–6 months before they buy. Early planning = less stress.

Phase 2: Pre-Approval

Weeks 4–6

Gather your financial documents: pay stubs, T4s, bank statements, debt summary
Talk to a mortgage lender (I can recommend one who knows the Annapolis Valley)
Get pre-approved — know your maximum purchase price and monthly payment
Ask about the NS 2% down payment pilot (available through local credit unions)
Ask about the Down Payment Assistance Program (DPAP) if your household income is under $145,000
Understand the difference between pre-qualification and pre-approval (you want pre-approval)

Karen's Tip: Pre-approval doesn't mean you should spend your maximum. I'll help you find something that fits your budget comfortably — not just technically.

Phase 3: House Hunting

Weeks 6–12

Create your must-haves vs. nice-to-haves list
Set up your property search with me — I'll send you listings that match
Start viewing properties (aim for 8–12 well-matched homes)
Take photos and notes at every viewing (they blur together fast)
Drive through neighbourhoods at different times of day
Score each home on your must-haves list (1–5 scale)
Do second viewings on your top 2–3 picks
Ask about age of roof, furnace, water heater, and septic/sewer

Phase 4: Making an Offer

Week 12+

Discuss offer strategy with me — we'll review comparable sales (CMAs)
Decide your offer price, conditions, and closing date
Include a financing condition (protects you if mortgage falls through)
Include a home inspection condition (always — no exceptions)
Prepare your deposit (usually $5,000–$10,000 via certified cheque or bank draft)
I'll submit the offer and negotiate on your behalf
Offer accepted? 🎉 Now the real countdown begins

Phase 5: Conditions & Due Diligence

7–14 Days After Acceptance

Schedule your home inspection (budget $400–$600)
Attend the inspection — ask questions, take notes
Review the inspection report with me — we'll decide what to negotiate
Confirm mortgage financing with your lender (send them the accepted offer)
Retain a real estate lawyer (I'll recommend one)
Arrange home insurance (required before closing)
Waive conditions once everything checks out

Karen's Tip: The inspection is your protection. If something major comes up, we negotiate. If the seller won't budge on a dealbreaker, you walk away — that's what conditions are for.

Phase 6: Closing Day

Closing Day

Final walkthrough of the property (usually the day before or morning of closing)
Sign closing documents at your lawyer's office
Transfer funds (your lawyer handles this)
Receive your keys — welcome home! 🏡
Set up utilities: power, internet, water, garbage collection
Update your address: CRA, bank, employer, insurance, subscriptions
Claim the First-Time Home Buyer Tax Credit ($10,000) on your next tax return

Quick Reference: Costs to Budget

Down payment: 2–5% (depending on program) = $7,000–$17,500 on a $350,000 home
Deed Transfer Tax: 1.5% in Annapolis/Kings County = $5,250 on $350,000
Home inspection: $400–$600
Legal fees: $1,200–$2,000
Title insurance: $250–$400
Home insurance: Varies (get 3 quotes)
Moving costs: Varies (get 3 quotes)

Karen's Take: Buying your first home is one of the biggest financial decisions you'll make — and it should feel exciting, not terrifying. My job is to make sure you understand every step, every dollar, and every decision. You're never alone in this.